One 97 Communications shares hit a day high of Rs 1,231.90 on Friday, 3 July, after its Paytm European unit won a Luxembourg payment licence.<\/p>\n
The approval came through for Paytm Europe Payments SA, the company\u2019s European arm.<\/p>\n
Luxembourg\u2019s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), granted the licence, and the company confirmed the development in an exchange filing on Friday.<\/p>\n
The authorisation took effect from 2 July. It does not carry a specified expiry date, which means Paytm Europe can continue operating under it without needing periodic renewal.<\/p>\n
With this approval, Paytm Europe has been added to the CSSF\u2019s official register of payment institutions.<\/p>\n
So the licence can now offer a range of regulated payment services in the region. That includes processing payment transactions and credit transfers, including standing orders, both through payment accounts and credit lines.<\/p>\n
The company is also permitted to offer payment acquiring services, which allow merchants to accept card and digital payments.<\/p>\n
For a company built almost entirely around payments, getting cleared to run this kind of regulated business in Europe is a meaningful step.<\/p>\n
It gives Paytm\u2019s international arm a proper legal footing to expand beyond India, rather than operating through partners or workarounds.<\/p>\n
By 10:29 am on Friday, stock were trading at Rs 1,212.20 on the NSE, down 0.10% from the previous close of Rs 1,213.40.<\/p>\n
Zoom out a bit and the picture looks stronger. Paytm shares are up 7.80% over the past week and have climbed 14.10% over the past month, comfortably ahead of the Nifty Midcap 50 index over the same periods.<\/p>\n